I’ll be willing to accept that they are unrealized gains once they can no longer used as collateral to secure loans or used to calculate wealth. Until then they have value and should be taxed either when given (which is different than bought) or as an annual wealth tax.
Seems like that wasn’t argued, just a maneuver to preserve the control facet of the shares even while surrendering some of the financial value could be seen as acceptable…
Wealth tax is a property tax, and just like I am forced to pay tax based on a presumed amount I could sell my house for, it can absolutely make sense to do the same for stocks. But I can totally accept that whatever that is, it shouldn’t mean someone must cede control of a company based merely on a tax burden.
Of course, that said, these ‘too big’ companies arguably have too much public interest broadly to be focused in so few people, but that’s a separate discussion than the taxation part.
Of course, that said, these ‘too big’ companies arguably have too much public interest broadly to be focused in so few people, but that’s a separate discussion than the taxation part.
I agree, thats a completely separate issue and has nothing to do with a tax or this citizen ballot measure.
I’ll be willing to accept that they are unrealized gains once they can no longer used as collateral to secure loans or used to calculate wealth. Until then they have value and should be taxed either when given (which is different than bought) or as an annual wealth tax.
Seems like that wasn’t argued, just a maneuver to preserve the control facet of the shares even while surrendering some of the financial value could be seen as acceptable…
Wealth tax is a property tax, and just like I am forced to pay tax based on a presumed amount I could sell my house for, it can absolutely make sense to do the same for stocks. But I can totally accept that whatever that is, it shouldn’t mean someone must cede control of a company based merely on a tax burden.
Of course, that said, these ‘too big’ companies arguably have too much public interest broadly to be focused in so few people, but that’s a separate discussion than the taxation part.
I agree, thats a completely separate issue and has nothing to do with a tax or this citizen ballot measure.
He’d have to sell shares which would be realized gains at that point.